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Investments in Affiliates (Tables)
 12 Months Ended
Dec. 31, 2021
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]  
Summary of Investments in Affiliates

We own investments in joint ventures for which the equity method of accounting is used. The debt of our joint ventures, if any, is non-recourse to, and not guaranteed by, us, and a default of such debt does not trigger a default under any of our debt instruments. We carry our investments at historical cost which, due to debt restructurings or distributions, may result in a negative investment balance. However, a negative investment balance does not represent a funding obligation for us or for our partners. Investments in affiliates consist of the following (in millions):

 

 

 

As of December 31, 2021

 

 

Ownership Interests

 

 

Our Investment

 

 

Our Portion of Debt

 

 

Total Debt

 

 

Distributions received in 2021 ⁽¹⁾

 

 

Assets

Asia/Pacific JV

 

 

25

%

 

$

7

 

 

$

—

 

 

$

—

 

 

$

—

 

 

A 36% interest in seven hotels and an office building in India

Maui JV

 

 

67

%

 

 

44

 

 

 

17

 

 

 

25

 

 

 

10

 

 

131-unit vacation ownership project in Maui, HI

Hyatt Place JV

 

 

50

%

 

 

(11

)

 

 

30

 

 

 

60

 

 

 

—

 

 

One hotel in Nashville, TN

Harbor Beach JV

 

 

49.9

%

 

 

(39

)

 

 

75

 

 

 

150

 

 

 

6

 

 

One hotel in Fort Lauderdale, FL

Philadelphia Marriott Downtown JV

 

 

11

%

 

 

(7

)

 

 

22

 

 

 

201

 

 

 

—

 

 

One hotel in Philadelphia, PA

Fifth Wall Ventures

 

 

 

 

 

42

 

 

 

—

 

 

 

—

 

 

 

5

 

 

Real estate industry technology investment

Other investments

 

 

 

 

 

6

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Total

 

 

 

 

$

42

 

 

$

144

 

 

$

436

 

 

$

21

 

 

 

 

 

 

 

As of December 31, 2020

 

 

Ownership Interests

 

 

Our Investment

 

 

Our Portion of Debt

 

 

Total Debt

 

 

Distributions received in 2020 ⁽¹⁾

 

 

Assets

Asia/Pacific JV

 

 

25

%

 

$

10

 

 

$

—

 

 

$

—

 

 

$

—

 

 

A 36% interest in seven hotels and an office building in India

Maui JV

 

 

67

%

 

 

46

 

 

 

18

 

 

 

27

 

 

 

10

 

 

131-unit vacation ownership project in Maui, HI

Hyatt Place JV

 

 

50

%

 

 

(13

)

 

 

30

 

 

 

60

 

 

 

—

 

 

One hotel in Nashville, TN

Harbor Beach JV

 

 

49.9

%

 

 

(39

)

 

 

75

 

 

 

150

 

 

 

—

 

 

One hotel in Fort Lauderdale, FL

Philadelphia Marriott Downtown JV

 

 

11

%

 

 

(7

)

 

 

22

 

 

 

205

 

 

 

—

 

 

One hotel in Philadelphia, PA

Fifth Wall Ventures

 

 

 

 

 

21

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Real estate industry technology investment

Other investments

 

 

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Total

 

 

 

 

$

21

 

 

$

145

 

 

$

442

 

 

$

10

 

 

 

___________

(1)
Distributions received were funded by cash from operations unless otherwise noted.